State Street Corp Has $838.97 Million Holdings in Ameriprise Financial, Inc. (NYSE:AMP)
State Street Corp cut its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,443,976 shares of the financial services provider’s stock after selling 140,951 shares during the period. State Street Corp owned approximately 4.53% of Ameriprise Financial worth $838,971,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AMP. Nachman Norwood & Parrott Inc bought a new stake in Ameriprise Financial during the 3rd quarter worth about $26,000. Provident Wealth Management LLC bought a new stake in Ameriprise Financial during the 3rd quarter worth about $32,000. Ovata Capital Management Ltd bought a new stake in Ameriprise Financial during the 2nd quarter worth about $36,000. WASHINGTON TRUST Co lifted its position in Ameriprise Financial by 1,200.0% during the 3rd quarter. WASHINGTON TRUST Co now owns 260 shares of the financial services provider’s stock worth $40,000 after buying an additional 240 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in Ameriprise Financial during the 2nd quarter worth about $58,000. 80.35% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on AMP shares. Credit Suisse Group cut their price target on shares of Ameriprise Financial from $200.00 to $194.00 and set an “outperform” rating on the stock in a research report on Monday, September 28th. Barclays began coverage on shares of Ameriprise Financial in a research report on Thursday, August 13th. They set an “overweight” rating and a $195.00 price target on the stock. Piper Sandler upped their target price on shares of Ameriprise Financial from $178.00 to $182.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Morgan Stanley upped their target price on shares of Ameriprise Financial from $175.00 to $186.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Royal Bank of Canada upped their target price on shares of Ameriprise Financial from $187.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $181.33.
Ameriprise Financial (NYSE:AMP) last announced its earnings results on Monday, November 2nd. The financial services provider reported $4.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.17 by $0.10. Ameriprise Financial had a net margin of 15.16% and a return on equity of 33.79%. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.99 billion. On average, research analysts expect that Ameriprise Financial, Inc. will post 13.9 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 20th. Investors of record on Monday, November 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, November 6th. This represents a $4.16 annualized dividend and a dividend yield of 2.31%. Ameriprise Financial’s dividend payout ratio is 25.84%.
Ameriprise Financial declared that its Board of Directors has approved a stock buyback plan on Tuesday, September 29th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, VP Karen Wilson Thissen sold 620 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $159.22, for a total transaction of $98,716.40. Following the sale, the vice president now owns 14,164 shares in the company, valued at approximately $2,255,192.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Edward Sweeney sold 10,927 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $167.73, for a total transaction of $1,832,785.71. Following the sale, the insider now owns 52,161 shares in the company, valued at approximately $8,748,964.53. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Ameriprise Financial Company Profile
Ameriprise Financial, Inc, through its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through five segments: Advice & Wealth Management, Asset Management, Annuities, Protection, and Corporate & Other.
Want to see what other hedge funds are holding AMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ameriprise Financial, Inc. (NYSE:AMP).
Receive News & Ratings for Ameriprise Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ameriprise Financial and related companies with MarketBeat.com's FREE daily email newsletter.